Financial Crime Risk Assessment Tools Get Thumbs Up in Bolivia

Bolivia has made significant strides in strengthening its financial crime risk assessment tools, according to a recent evaluation by the Financial Action Task Force (FATF).

A Comprehensive Evaluation

The FATF conducted an evaluation of Bolivia’s measures from April 17-28 this year. Utilizing the 2013 Methodology for the assessment, the team gathered information both from Bolivia itself and through an on-site visit.

Key Findings:

• The country’s financial crime risk assessment tools are largely in line with international standards set out in the 2012 FATF Recommendations.
• A comprehensive approach enabled the team to gain a thorough understanding of the country’s risk assessment tools and identify areas where improvement was needed.

International Validation

The findings of this evaluation have been carefully reviewed and endorsed by the FATF, providing further validation for Bolivia’s efforts in combating financial crime.

Key Takeaways:

• An Executive Summary outlining the report’s Key Findings and Priority Actions is available for reference.
• The summary provides a detailed overview of the assessment’s results and highlights areas where improvement is needed.